Volkswagen rises in first quarter net profits by 86.1 percent
The group Volkswagen, which owns brands such as VW, Seat, Audi and Skoda, rose in the first quarter net profit up to 3,200 million euros, 86, 1% more than in the first three months of 2011, sales increased and the effect of stock options from Porsche.
Volkswagen said in a statement today that operating profit in the same period rose by 10.2% to 3,200 million euros, on sales of Audi and VW brands.
The biggest European car manufacturer said the figure does not include operational 848 million euros of its share of operating profit of joint ventures in China.
The result of these companies is reflected in the financial result of Volkswagen, which rose to 1,100 million euros from a loss of 700 million euros last year, for the good behavior of the Chinese joint ventures and profit improvement Porsche.
The Porsche stock options had a positive effect in the first quarter.
The turnover of the largest carmaker in Europe improved by 26.3% to 47,300 million euros, the increase in deliveries from 11.3% to 2.3 million vehicles.
Volkswagen CEO Martin Winterkorn said “we had a clear head start the year.”
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